#49 The $50bn Man - David Samra on Global Value & 20 Years of 4% Alpha

David Samra has been in the investment business for over 30years. He specialises in international value and has beaten his index by over 4% pa for over 20 years, in a period when traditional value has been doing poorly.

That may be why his fund, which has been closed to new investors for most of the last 14 years, has reached $50bn. In this conversation, David explains his focus on four factors: owning good companies, buying them at a discount of at least 30% to intrinsic value, and ensuring they have excellent management and a strong balance sheet.

And he discusses several of his stocks, sharing some impressively detailed knowledge.

Behind the Balance Sheet is a forensic accounting and fundamental investing podcast for serious investors. Each episode dives into how real‑world investors source ideas, build conviction and manage their portfolios.

You’ll hear frameworks for analysing industries, understanding business models, and thinking about risk, behaviour and incentives, so you can refine your own process rather than copy stock tips.For show notes, transcripts and additional resources, visit our ⁠⁠website⁠⁠.

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